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Smart contract blockchain technology

Smart contract blockchain technology

Smart contract blockchain technology; Smart contracts can be best described as programmed money. But what are the real benefits of programming money? And how can it help us? Today we show how smart contracts will change the way we buy and sell around the world.

Benefits of programmed money

The good thing about programmable money is you can determine upfront what the money should do. In other words the possibilities of what the money can do is limited. This is a huge benefit in the sense of it cannot be influenced once the smart contract is launched by anybody.

For example when you buy something online you can say to the retailer I will only pay when the package has arrived. You can determine if the package has arrived based on the status of the track and trace code of the package.

You set a time limit for the seller to ship the order. If he or she does not ship the product the funds will automatically return to you when the shipping time has expired. Or the retail delivers the product and they will get paid instantly when the order has been delivered.

You don’t need to know each other

Especially the online market is a booming market. We buy all together more and more online. You can thanks to the internet shop literally all over the world sitting in your own chair.

But what most people asks themselves when buying online is does the seller really deliver my order? Because of the physical distance between you and the retailer it’s just not possible to visit the shop.

So to tackle this specific barrier a smart contract can totally change the way we shop online. It offers zero risk not only for the customer, but also for the retailer. Because he or she gets guaranteed paid when the order is delivered.

Globally doing business

Smart contract blockchain technology. Comparing to traditional services like PayPal or Western Union this is a far cheaper way to transfer funds without any borders. It gives everybody the best buyers and sellers protection there is in a much easier way. And best of all its bulletproof save and very cheap.

Unbanked can buy and sell online

Even for the unbanked it can become reality to shop online with maximum buyers and sellers protection. They can do business all over the world with just having a smartphone and internet connection.

Easbit makes it reality

Easbit is currently developing the smart contract feature. We’ll make it soon possible for customers and retailers to buy and sell anywhere on the world with bulletproof protection of NOT losing any cent.

It will be possible for any online shop to offer customers the buyers protection. Every retailer can simply install it by installing the Easbit smart contract plugin and the customer can use it through the existing Easbit mobile bitcoin wallet.

So make sure you follow us.

Share your thoughts

You have your own opinion about this subject? Or you just want to share your thoughts? We welcome you to leave a comment!

Try it now the Easbit experience, it’s free!

The best way to see how it really works is just to try it yourself. The Easbit mobile bitcoin wallet app for Android is totally free to download.